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Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2020

Accounting Policies [Abstract]

Property, Plant and Equipment

Property and equipment consisted of the following:

						Estimated Useful Lives						December 31,
												2020						2019
Computer equipment						3 years						$	464.1					$	434.8
Software						3-5 years						64.8						55.9
Land						Indefinite						9.0						9.0
Buildings, including improvements						5-40 years						146.6						145.5
Leasehold improvements						Lesser of useful life or remaining lease term						98.2						99.4
Other						1-20 years						27.0						25.7
Total property and equipment												809.7						770.3
Less: accumulated depreciation and amortization												(552.4)						(511.7)
Property and equipment, net												$	257.3					$	258.6

Finite-Lived Intangible Assets

Finite-lived intangible assets are amortized over the following estimated useful lives:

Customer relationships			2-9 years
Developed technology			3-7 years
Trade names and other			1-10 years

Intangible assets, net are summarized as follows:

			December 31, 2020
			Gross Carrying Amount						Accumulated Amortization						Net Carrying Amount
Indefinite-lived intangible assets:
Trade names and branding			$	445.0					n/a						$	445.0
Domain portfolio			250.3						n/a						250.3
Contractual-based assets			67.0						n/a						67.0
Finite-lived intangible assets:
Customer-related			857.0						$	(534.7)					322.3
Developed technology			188.1						(90.7)						97.4
Trade names and other			106.9						(33.8)						73.1
			$	1,914.3					$	(659.2)					$	1,255.1

			December 31, 2019
			Gross Carrying Amount						Accumulated Amortization						Net Carrying Amount
Indefinite-lived intangible assets:
Trade names and branding			$	445.0					n/a						$	445.0
Domain portfolio			148.1						n/a						148.1
Finite-lived intangible assets:
Customer-related			838.4						$	(475.6)					362.8
Developed technology			151.5						(67.3)						84.2
Trade names and other			81.4						(23.8)						57.6
			$	1,664.4					$	(566.7)					$	1,097.7

Weighted-Average Assumptions Used in Estimating the Fair Value of Stock Options Granted

The fair value of stock options granted was estimated using the following weighted-average assumptions:

			Year Ended December 31,
			2020						2019						2018
Expected term (in years)			6.0						6.1						6.1
Expected volatility			32.3		%				31.2		%				31.5		%
Risk-free interest rate			0.9		%				2.2		%				2.7		%

Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following tables set forth assets and liabilities measured at fair value on a recurring basis:

			December 31, 2020
			Level 1						Level 2						Level 3						Total
Assets:
Cash and cash equivalents:
Money market funds			$	98.0					$	—					$	—					$	98.0
Total assets measured and recorded at fair value			$	98.0					$	—					$	—					$	98.0
Liabilities:
Derivative liabilities			$	—					$	216.4					$	—					$	216.4
Total liabilities measured and recorded at fair value			$	—					$	216.4					$	—					$	216.4

			December 31, 2019
Assets:			Level 1						Level 2						Level 3						Total
Cash and cash equivalents:
Reverse repurchase agreements(1)			$	—					$	70.0					$	—					$	70.0
Commercial paper			—						102.0						—						102.0
Money market funds			444.0						—						—						444.0
Short-term investments:
Commercial paper and other			0.7						22.9						—						23.6
Total assets measured and recorded at fair value			$	444.7					$	194.9					$	—					$	639.6
Liabilities:
Derivative liabilities			$	—					$	93.8					$	—					$	93.8
Total liabilities measured and recorded at fair value			$	—					$	93.8					$	—					$	93.8

_________________________________

(1) Reverse repurchase agreements include a $70.0 million repurchase agreement with Morgan Stanley, callable with 31 days notice.

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